A 16% rise in the price of naphtha this quarter and fierce competition have affected profits for South Korea's biggest chemical maker LG Chem Ltd. The company's Q2 profits fell 49% from a year ago levels. LG Chem reported 45 billion won in net profit for Q2, compared with last years' 87.6 billion won profit. Sales were up to 2.27 trillion won as against 1.79 trillion won last year and the survey forecast of 2.1 trillion won.
LG's margins have been squeezed by weak price gains for its petrochemical products, including its mainstay PVC, and rising competition from Japan.
14-Jul-06 
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